Follow Stockpools

HealthSpace arranges $1M financing with Vanbex Capital

2017-12-05

HealthSpace Data Systems Ltd. has signed a memorandum of understanding (MOU) with Vanbex Capital to assist with HealthSpace's continued efforts in blockchain development. Vanbex Capital, an integrated venture studio that invests in high-growth blockchain ventures, will make a strategic investment of $1-million into HealthSpace, by way of a private placement. In exchange for the investment, HealthSpace will issue Vanbex Capital, sister company of Vanbex Group, 10 million shares of the company at a price of 10 cents per share. An additional 600,000 shares will also be issued in the private placement for a total issuance of 10.6 million shares.

The private placement is subject to the approval of the Canadian Securities Exchange and the securities will be subject to a four-month-and-one-day hold period under securities laws.

"We are confident that this investment is the start of a long-term partnership. A partnership that was an easy decision for us because HealthSpace is a leader in their field," said Kevin Hobbs, chief executive officer at Vanbex Capital.

"Vanbex Group has an extensive track record of incubating successful blockchain companies with over 60 blockchain companies in their portfolio, some of which are the top companies in the industry globally, and have been able to help their clients raise over $100-million in [initial coin offerings] for their clients; this partnership will help bring blockchain technology to the masses," said Kevin Hobbs, chief executive officer at Vanbex Capital.

"As we progress towards creating our blockchain platform for audit trails, it's imperative we pick the right partners. Vanbex has the all right track record and experience and brings immense value," says chief technology officer Silas Garrison. "We couldn't be happier to work with not only them, but are also excited about the opportunity to work with their other portfolio companies. We are sure that together, we can create an unparalleled approach in the blockchain."